For years I have been arguing that tax cuts for the wealthy are not as beneficial for the economy and the economic well-being of all Americans as are tax cuts for the non-wealthy. Those cuts would permit vast numbers of Americans toShow More Summary
Republicans have found a way to pay for their $1 trillion in tax cuts for corporations and wealthy families: repealing the individual mandate and driving 13 million Americans off their health insurance.
The competing House and Senate tax bills differ in important respects, but they have this in common: a predilection to shower benefits on the very wealthy. The extraordinary reduction in the corporate tax rate to 20% is one obvious example. But the proposals’ true perversity, and the real object...
The tax reform plan introduced by House Republicans eliminates a number of tax deductions to pay for a series of tax cuts that mostly benefit the very wealthy.
Despite a rough outcome for Republicans after Tuesday's elections, they're still plowing full speed ahead on a plan to cut taxes for the wealthy. On Thursday, Late Night host Seth Meyers mocked Republican efforts, including their decision...Show More Summary
White House economic adviser Gary Cohn defended Republicans’ proposed tax cut legislation on Thursday by explicitly saying that tax cuts for wealthy people will “trickle down” to the rest of the economy. In an interview with CNBC, Cohn said that middle-class families are getting a...
Which of course requires that you lie about it: Given such overwhelming support for raising, not cutting, taxes on the wealthy, it makes sense that President Donald Trump and his allies in Congress would present their tax plan as benefiting the middle class rather than the rich. Show More Summary
Donald Trump’s push for deep tax cuts reached a milestone on Thursday as his fellow Republicans in the House of Representatives unveiled a long-awaited plan which would benefit corporations and the wealthy but is less generous to the middle class. Show More Summary
Congressional Republicans unveiled a plan Thursday to cut taxes for large corporations and wealthy individuals, transferring $1.2 trillion in benefits to corporations and estates over the next 10 years. The scheme looks a lot like the disastrous Kansas tax experiment pushed through by Gov. Sam Brownback (R) in 2012. And, like the Kansas plan, it’ll […]
WASHINGTON ? Republicans prepared to finally unveiled their tax reform legislation on Thursday with a draft bill that would dramatically cut taxes for corporations and the wealthy.
The legislation would dramatically cut taxes for corporations and the wealthy.
In the midst of news about special counsel Robert Mueller’s first and most recent indictments in his Russia investigation lies the ever-looming possibility of President Donald Trump’s proposed tax cuts for the wealthy. According to former Clinton Labor secretary Robert Reich, those...
Treasury Secretary Mnuchin said that it's hard to avoid giving tax cuts to the wealthy.
Sarah Huckabee Sanders told a story about tax cuts and a beer tab during Monday's White House press briefing. The story, which attempts to explain why benefits of a tax cut would mostly go to the wealthy, has been floating around the...Show More Summary
After years of railing against deficit spending, House Republicans voted on Thursday for a budget resolution that allows for $1.5 trillion of deficit spending to finance tax cuts. Nearly 80 percent of the cuts would go to the wealthiest 1 percent of Americans, according to an initial estimate from the nonpartisan Tax Policy Center. Every Democrat and […]
Both the U.S. House and Senate have passed their versions of a budget resolution, including “reconciliation” instructions to cut spending and pave the way for Congress to pass sweeping tax cuts for the wealthy with only 51 votes. While...Show More Summary
According to numerous reports, including this one from Bloomberg, Treasury Secretary Steven Mnuchin announced that, contrary to the President’s assertion that the Republican tax plan would not generate net tax cuts for the wealthy, the plan will include such cuts. Show More Summary
It is an insult to intelligence for Steven Mnuchin to claim that the Trump tax plan isn't a sop to the rich. That's the GOP's raison d'etre.
Treasury Secretary Mnuchin’s Forked Tongue on Tax Cuts for the Wealthy Shortly before the inauguration, Steve Mnuchin discussed the incoming administration’s tax plans and announced the Mnuchin Rule–that “[a]ny reductions we have in upper-income taxes will be offset by less deductions so that there will be no absolute tax cut for the upper class.” EXCLUSIVE: […]
Did you know the budget voted on by the Republican majority in the Senate cuts $470 billion from Medicare over the next ten years? This was done to help offset tax cuts for the wealthy, of course. It also cuts more than a trillion dollars from Medicaid. Medicaid pays most of the bills for the […]